DAI is a stablecoin mined and distributed on the Ethereum blockchain. DAI casinos offer a swift and secure way to handle your casino funds, making it a perfect alternative to traditional fiat currencies and more mainstream crypto coins. Explore some of the best DAI online casinos.
DAI Overview
DAI is a decentralised, stablecoin cryptocurrency created by MakerDAO in 2017 on the Ethereum blockchain. Although it's not as nearly widespread as Bitcoin or Ethereum at crypto casinos, it has gained significant traction thanks to its relative stability and value being pegged to the US dollar.
Here are some of the primary advantages of playing at the best DAI online casinos:
- Stability. As a crypto coin pegged to the US dollar, DAI reduces the impact of market volatility and ensures your winnings retain value.
- Privacy. Thanks to the decentralised nature of DAI online casinos, this payment method ensures greater privacy and security than fiats.
- Lower costs. DAI transactions generally incur lower fees than credit cards, bank transfers, or even some cryptocurrencies.
- Speed. The speed of crypto transactions is unparalleled, so you get your winnings transferred to your crypto wallet much quicker.
- DeFi integration. Since DAI is part of the Ethereum ecosystem, users can use it to earn interest.
How to Deposit With DAI at Online Casinos
DAI deposits are quick and processed within seconds once you confirm the transaction. Here's how to deposit with DAI:
- Log into your preferred casino account. To start, create an account on the online casino platform or log in if you already have one. Check our casino reviews to ensure the casino supports DAI as a payment method.
- Go to the cashier. Go to the casino's cashier or deposit section and pick DAI as your preferred option.
- Copy the casino's DAI wallet address. The casino will provide a DAI wallet address (a long alphanumeric string or QR code) that you must copy.
- Send DAI from your wallet. Open your crypto wallet and select the option to send funds. Paste the casino's wallet address and specify the amount of DAI you want to deposit.
- Confirm the transaction. Review the transaction details, including the wallet address and deposit amount, and confirm the transaction.
DAI transfers are typically processed within minutes, so the funds should reflect in your casino balance nearly instantaneously.
How to Withdraw Funds With DAI
DAI withdrawals at online casinos work similarly to deposits and are done in a few simple steps:
- Log into your preferred casino account.
- Go to the cashier. This time, switch to Withdrawals.
- Enter your wallet address. When prompted, input your DAI wallet address and double-check the info.
- Specify the withdrawal amount. Enter the amount of DAI you wish to withdraw, keeping with the casino's potential withdrawal minimums.
- Confirm the withdrawal request. After you've made sure the details are correct, confirm your withdrawal request.
Depending on the casino, you may skip the whole verification procedure for smaller amounts. However, we advise you to complete the KYC procedure and verify your identity at every online casino.
Disadvantages of DAI When Using It at Online Casinos
DAI's advantages definitely overshadow the downsides of using it at online casinos. However, there are some disadvantages to using DAI.
Compared to more established cryptocurrencies like Bitcoin or Ethereum, DAI is not as widely accepted at online gambling sites, so you may be looking at fewer options for casinos that accept DAI.
Another thing to consider is network fees. Given that DAI transactions occur on the Ethereum blockchain, you may encounter high fees during network congestions, which can sometimes make small transactions costly.
Should You Use DAI at Online Casinos?
Security and anonymity play a huge part in online gambling, so players frequently opt for cryptocurrencies thanks to their unparalleled ability to keep the information hidden from casinos and third parties.
As such, DAI is no exception: it offers a quick and secure way to move your money to and from online casinos, blocking access to sensitive information.
The main drawbacks of playing at a DAI casino are potential fees and relatively limited availability. However, if you find an online casino that supports DAI and meets your preferences, this stablecoin is definitely worth considering.
